Even the most experienced entrepreneurs understand the challenges of a growing business and ensure they can maintain the momentum they have generated in the first few years of the company’s existence. What is more important is the in-between phase where your business is on the verge of becoming bigger and better.
But, if you’ve never encountered growth of this scale before, there are several uncertainties that you might possess. Failing to understand and plan for such uncertainties could cause a ripple effect through your business and make it difficult to manage the growth that is bubbling beneath the surface.
So what can you do if your business is on the cusp of becoming the next big thing in your industry? Here are ten effective and successful ways to expertly balance the in-between phase of business growth.
Excellent customer service is one of the most effective ways to encourage repeat purchases and generate customer loyalty within your business. However, when your business is going through a growth period, you may not be able to dedicate enough time to your customer service efforts.
This is one of the worst things you can do, though. You cannot abandon your dedication to providing exceptional customer service just because other things are going on within your business. It is essential to master the art of multitasking, and treating your customers the same way.
You can give your business some breathing room by being transparent about what your company is going through in this in-between phase. While this is no excuse for ignoring customers altogether, it will help customers understand why the service is not as efficient.
If you are moving offices or adjusting the number of supplies or services you offer, you must inform your suppliers and clients so they can prepare their stock or orders for the appropriate time. It is no use making these requests the day before you need them, as this could put a dent in your growth and force you to miss client orders.
Informing them about any moves will also ensure they are aware of your current location. If they need to deliver items or arrange meetings, your new office should be highlighted. The most effective way to do this is to include information about your mover on emails and promotional materials.
At the very least, this will give you a leg to stand on should any suppliers or clients ignore the changes, but you should still try to rectify any mistakes and misunderstandings.
Your business may not be prepared to move all equipment and furniture from one office to the next, and you do not want your office to be cluttered, as this can make the area look unprofessional and be a distraction. While preparing for growth, though, you will need somewhere to store items that don’t have a home yet.
You can use self-storage services or PVC Buildings that are ideal for short-term storage and allow your business to keep everything safe and secure.
Once your new office is open for access, you and your team can gradually move the essentials over and get everything set up. This should include the office floor plan, systems, cabling and connections, and any meeting or welcoming areas for clients when they visit.
Growth often comes with greater responsibilities for employees within your business. You cannot expect them to be comfortable in their new role without any training, and failing to provide this training could seriously affect your business.
Therefore, you should take the time to train the right people for new responsibilities. If you have offered management training programs, give them the advice and support they need to begin their new role as soon as possible.
You may need to bring in new employees to help with the growth, whether these are entry-level positions or if you bring in experienced senior employees to help you manage the growth and transition more efficiently. As beneficial as promoting from within can be for a business, you sometimes require external recruitment to help steady the ship or provide an immediate impact.
Source : https://www.mikegingerich.com/blog/ways-to-expertly-balance-the-in-between-phase-of-business-growth/